Chemours (CC) to Release Earnings on Wednesday

Chemours (NYSE:CC) will post its quarterly earnings results after the market closes on Wednesday, February 14th. Analysts expect Chemours to post earnings of $0.97 per share for the quarter.

Chemours (NYSE:CC) last issued its quarterly earnings results on Thursday, November 2nd. The specialty chemicals company reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.11. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.59 billion. Chemours had a net margin of 4.86% and a return on equity of 116.80%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. On average, analysts expect Chemours to post $4 EPS for the current fiscal year and $5 EPS for the next fiscal year.

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Shares of Chemours (CC) opened at $47.89 on Wednesday. The company has a debt-to-equity ratio of 5.07, a current ratio of 2.19 and a quick ratio of 1.63. The company has a market cap of $8,850.00 and a P/E ratio of 33.03. Chemours has a 12-month low of $26.33 and a 12-month high of $58.08.

Chemours announced that its board has initiated a share repurchase program on Friday, December 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be given a $0.17 dividend. This is an increase from Chemours’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.68 dividend on an annualized basis and a yield of 1.42%. Chemours’s dividend payout ratio is presently 8.28%.

In other news, insider Christian W. Siemer sold 15,088 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $47.37, for a total transaction of $714,718.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.14% of the stock is owned by corporate insiders.

A number of research firms have issued reports on CC. Morgan Stanley began coverage on shares of Chemours in a research report on Tuesday, January 30th. They issued an “equal weight” rating and a $57.50 target price for the company. Barclays reiterated a “buy” rating and issued a $60.00 target price on shares of Chemours in a research report on Wednesday, December 6th. Jefferies Group increased their target price on shares of Chemours to $66.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Zacks Investment Research downgraded shares of Chemours from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, UBS Group increased their target price on shares of Chemours from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $57.85.

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Chemours Company Profile

The Chemours Company is a provider of performance chemicals. The Company operates through three segments: Titanium Technologies, Fluoroproducts and Chemical Solutions. The Titanium Technologies segment is a producer of titanium dioxide (TiO2). The Fluoroproducts segment is a provider of fluoroproducts, including refrigerants and industrial fluoropolymer resins.